Small businesses are the backbone of the region’s economies, but they lack the resources to connect to the region’s booming e-commerce market.
That dampens their prospects for growth, says Johanna Posada Gil, co-founder of Elevar Equity, which led the Series B financing round.
Latin American e-commerce revenues are expected to reach $85 billion by 2019, up 17% per year since 2014. Tienda Nube (Nuvem Shop in Brazil), launched in 2010, enables businesses to create online shops, manage payments and fulfill shipments.
The company has 16,000 registered businesses, mostly in Brazil and Argentina, and plans to expand to Mexico.
IGNIA Partners, NXTP Labs, FJ Labs and Kaszek Ventures participated in the financing.